PUBLIC INVITED TO COMMENT ON CONDOMINIUM CONVERSION FEES Seven meetings throughout the summer

Berkeley, California (Wednesday, June 04, 2008) - The City is changing the way it charges some of its fees on condominium conversions, and is seeking input from the public. Between early June and late September, there will be seven public meetings at which to discuss fee alternatives.

City staff members will use that public input to formulate a set of recommendations that will go to the City Council in late September 2008.

Mitigation fees are the fees the City requires apartment owners to pay when they convert their building into condominiums. Revenue from mitigation fees accrue to the Berkeley Housing Trust Fund which provides loans to non-profit housing developers to create permanently affordable housing in Berkeley. Currently, the City of Berkeley requires mitigation fees due on sale in its condominium conversion program as: